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Fairfax, VA 22030

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Wind and Flood Insurance Considerations (VA, MD, DC)

Darren Kincaid - Thursday, August 16, 2018

As fall approaches and the notion of those strong northeaster storms come to mind, take a moment to consider how well you are covered for flood and windstorm damage.  This blog post takes a moment to explain to you how flood and windstorm insurance coverage works. Here are five things you should know:

1. People usually underestimate the risk.  90% of all natural disasters involve flooding, according to the National Flood Insurance Program (NFIP). To further underscore the danger, the NFIP notes that homes have a 26 % chance of flooding during the life of a typical 30-year mortgage. That compares to the nine percent risk your home will suffer fire damage.

Also, keep in mind that if you live in flood-prone areas, your homeowners policy doesn't protect you for flood damage. You'll need separate insurance for that.
2. The 30-day clause. You can't just go out and buy flood insurance after learning that a hurricane or tropical storm is approaching. Coverage becomes effective 30 days after purchase.

3. Wind damage and insurance. Insurance for windstorm damage caused by hurricanes usually comes with a deductible tied to your home's value. That deductible typically ranges from 1 to 5 %. In some coastal areas, with high wind risk, hurricane deductibles may be higher and even approach 10 percent.

4. Premiums for flood insurance. The average premium for flood insurance in 2010 was about $600 a year. But it can climb dramatically in a high-risk area. Flood insurance in low- to moderate-risk areas is much less, as low as $129 a year in some cases.

5. Limits of federal flood protection insurance. Flood insurance provided by the NFIP tops out at $250,000, so you may have to buy more flood coverage with a private insurer.
These policies can add as much as several million dollars of extra coverage to your NFIP base, but can only be purchased after first securing the NFIP protection.

The Street

Fall RV Travel -- Are You Covered

Darren Kincaid - Wednesday, August 15, 2018
TriState Insurance - RV Insurance for VA, MD, and DC

In today's booming economy, AAA predicts more people will hit the road for family fall travel than in anytime in recent memory.  We encourage all of you to conduct safety inspections of your RV's long before your planned departure date.  RV's that have not been used in a while can suffer issues with brakes, axles, motors, tires, and any number of other components that when neglected, can put both your family and the overall enjoyment of your vacation at risk.

While your considering the safety of your RV, why not also consider your financial safety by reviewing your RV insurance coverage.  Has that coverage lapsed?  Has the overall value of your RV increased or decreased thus possibly having you underpaying or overpaying for RV insurance?  Independent insurance agents (like us here at TriState) work for YOU and not the insurance industry so we have a vested interest in making sure you are properly (but never overly) insured.

Also consider what's going on with your RV when you are not using it.  If you store your RV in a storage yard, what's going on there late at night. Some owners find out the hard way when thieves and vandals strike. If your RV is in your back yard, you may or may not be covered by your homeowner's insurance. Regardless of where you store or how you use your RV, it is wise of you to have an independent insurance agent assess your recreational vehicle insurance policy. Far too many people have trusted insurance agents of the large insurance firms only to discover that multiple other avenues exist for both better coverage and better value for your insurance dollar.

Your RV of choice has distinct features so it is just right to customize a comprehensive coverage specifically designed for it and it can only be done with the help of our independent insurance agents. By having a recreational vehicle insurance in VA, MD, DC, you can be confident that you and your RV are well-protected all seasons of the year.

TriState recreational vehicle insurance policies (in VA, MD, DC) offer you with special coverage that only an independent insurance agent can design for you. These policies offer special coverages that include, but are not limited to, custom equipment, road side assistance, total loss replacement, as well as collision and other damages to your RV. Aside from that, there are also be a coverage that can be provided for uninsured and under-insured motorists. You can also have a special coverage to compensate for medical payments and legal defense costs when worst case scenarios occur.

To find out more about your options when customizing a comprehensive coverage for your recreational vehicle, consult an expert of TriState Business Insurance.

Chiropractor Malpractice Insurance (VA, MD, DC)

Darren Kincaid - Wednesday, August 08, 2018
TriState Business Insurance - chiropractic malpractice insurance for VA, MD, and DC

One should never procrastinate seeking professional help with chronic pain.  Sadly, in tough financial times, people do just that.  Thankfully in today's booming economy, more and more chiropractors are opening and expanding their businesses due to high demand for their service. That's the good news.  The "bad" news is that more patients equates to more liability risk.  Smart chiropractors understand this and see the need to review their malpractice insurance policies.

Although chiropractic insurance is available from most medical insurance providers, these providers do not provide the same incentives because they provide insurance to individuals employed as chiropractors specifically. That is why it would be best to review and adjust your chiropractic insurance policy with TriState for VA, DC, and MD chiropractic practices. 

Chiropractic insurance that protects your reputation

You should seek insurance coverage that is specifically designed for your practice and the specific treatments that you offer.  Get a chiropractic insurance that is also devoted to protecting your reputation and preserving your businesses.  If you've a new chiropractic clinic owner, talk to your peers who've been in the business for a while.  They will help you understand why Chiropractor Liability insurance from TriState is so important. We are independent insurance agents who work for you and not for the insurance industry. 

To find out more about chiropractic insurance in VA, MD, or DC, contact TriState Business Insurance.

Review Your Catering Business Insurance Annually

Darren Kincaid - Wednesday, August 01, 2018
TriState Business Insurance - restaurant and catering insurance policies in VA, MD, and DC

The economy is BOOMING!  American disposable income is on the rise and people are electing to reward themselves by dining out. But they also are increasingly using that extra money to pay for someone else to cater their meals via home delivery.  Caterers are filling that market void at a high rate with more and more caterers adding home delivery services to their business portfolio.   As with any business enterprise, home food delivery introduces unique business insurance considerations.  As your independent business insurance agent (in VA, MD, and DC) we are uniquely skilled to consult you on the litany of considerations and coverage options specific to the food catering industry.  All of the restaurant and catering insurance policies that we craft (for clients in VA, MD, DC)  cover you against the obvious risks but also all the not so obvious risks that you are subject to.  Some of those risks include: 

  • Physical damage or loss of catering items
  • Damage that you or staff inflict upon delivery sites  
  • Theft or vandalism of your catering vehicles
  • Protection from food allergy and other food-born illnesses
  • Auto insurance for your delivery vehicles
  • Losses incurred by illness or unforeseen circumstances

We highly advise you to secure your restaurant and/or catering business insurance policy long before you turn your business sign to "open".  It's simply a risk not worth taking.  We'll do the leg work for you so you can concentrate on getting things set up.  So contact your independent insurance professionals here at TriState Business Insurance and get that dream of business ownership started on the right foot.